⏺Investors are eagerly awaiting signs that China's new fiscal stimulus may finally lift wealthy and middle-class Chinese shoppers out of their funk, inspiring them to buy $4,300 designer leather handbags ahead of Singles' Day, China's biggest shopping holiday.

⏺Consulting firm Bain previously said global sales of luxury personal goods, including clothing, accessories and beauty products, would grow 4% this year compared with the same period last year, on a flat basis. The global downturn is most pronounced in China as economic uncertainty weighs on middle-class #buyers and makes those who can still afford #Luxury wary of ostentation.

⏺Mistrust among Chinese buyers persists following the downturn in the country's property market. If confidence returns, even slightly, spending on luxury goods in #China could become quite significant again. Let us remind you that the world leader in luxury LVMH has in its #portfolio brands such as Louis Vuitton, Dior, Tiffany & Co and Sephora.

📌#TrumpDeFi